Latest / Startup Stories with Fexingo: Conversations About Founders, Funding, and Building Companies from Zero
How Nubank Built a 100 Million User Bank Without Branches
In episode 60 of Startup Stories with Fexingo, Lucas and Luna unpack how Nubank, founded by David Vélez in 2013, grew from a credit card startup in São Paulo to a 100 million customer digital bank spanning Brazil, Mexico, and Colombia. They dive into the specific tactics Nubank used to overcome Brazil's oligopolistic banking sector — zero-fee credit cards, a fully mobile app, and a customer service model built on speed and transparency. The conversation examines how Nubank managed to keep its cost-to-income ratio below 40%, vastly better than traditional incumbents, and how it leveraged…
The skinny
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